Abstract
Pricing is one of the most vital and highly demanded component in the mix of marketing along with the Product, Place and Promotion. An organization can adopt a number of pricing strategies, which usually will be based on corporate objectives. The purpose of this paper is to propose a methodology to define an optimal pricing strategy for convenience stores. The solution approach involves a multiple linear regression as well as a linear programming optimization model. To prove the value of the proposed methodology a pilot was performed for selected stores. Results show the value of the solution methodology. This model provides an innovative solution that allows the decision maker include business rules of their particular environment in order to define a price strategy that meet the objective business goals.
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Acknowledgments
The authors are grateful to Sintec for financial and technical support during the development of this research. Sintec is the leading business consulting firm for Supply Chain, Customer and Operations Strategies with a consultative model in Developing Organizational Skills that enable their customers to generate unique capabilities based on processes, organization and IT. Also, we appreciate the financial support of CONACYT-SNI program in order to promote quality research.
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Hervert-Escobar, L., López-Pérez, J.F., Esquivel-Flores, O.A. (2017). Optimal Pricing Model: Case of Study for Convenience Stores. In: Pichardo-Lagunas, O., Miranda-Jiménez, S. (eds) Advances in Soft Computing. MICAI 2016. Lecture Notes in Computer Science(), vol 10062. Springer, Cham. https://doi.org/10.1007/978-3-319-62428-0_28
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DOI: https://doi.org/10.1007/978-3-319-62428-0_28
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